|
on Microeconomic European Issues |
| By: | Salla Kalin (University of Helsinki); Tomi Kyyrä (VATT Institute for Economic Research); Tuomas Matikka (VATT Institute for Economic Research) |
| Abstract: | We use detailed, population-wide data from Finland to provide evidence of the impact of earnings disregard policies on part-time work during unemployment spells, and describe the longer-run trends in combining part-time work and social benefits. We find that part-time work while receiving unemployment benefits is strongly concentrated in the service and social and health care sectors, and that women participate in part-time work much more commonly than men (25% vs. 12% of benefit recipients). The share of part-time workers among benefit recipients increased sharply from 10% to 18% over a few years after the implementation of earnings disregards in unemployment benefits and housing allowances, which allowed individuals to earn up to 300 euros per month without reductions in their benefits. Using variation in the impact of the reforms on incentives between individuals eligible for different types of benefits, we estimate a 16–28% increase in participation in part-time work due to the implementation of earnings disregards. However, we find no evidence of economically significant positive or negative effects of increased participation in part-time work on transitions to full-time employment. |
| Keywords: | labor supply; social benefts; part-time work; earnings disregards |
| JEL: | H24 J21 J22 |
| Date: | 2024–04 |
| URL: | https://d.repec.org/n?u=RePEc:fit:wpaper:21&r= |
| By: | Elie Bouri (School of Business, Lebanese American University, Lebanon); Rangan Gupta (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Asingamaanda Liphadzi (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Christian Pierdzioch (Department of Economics, Helmut Schmidt University, Holstenhofweg 85, P.O.B. 700822, 22008 Ham- burg, Germany) |
| Abstract: | We analyze whether changes in temperature anomalies, and its second, third, and fourth moments, carry valuable information in forecasting historical stock returns volatility of Canada, France, Germany, Italy, Japan, the United Kingdom (UK), and the United States (US), i.e., the G7 countries, after controlling for leverage, skewness and (excess) kurtosis of stock price fluctuations. Using centuries of monthly data, covering the period 1915-2024 for Canada and Italy, 1898-2024 for France, 1870-2024 for Germany, 1914-2024 for Japan, 1693-2024 for the UK, and 1791-2024 for the US, the results show that stock market moments matter more than climate risks for accurately forecasting stock returns volatility. Extended analyses confirm that climate risks are already captured by the moments of stock returns. We discuss the implications of our findings for investment decisions and economic policy. |
| Keywords: | Stock market, Volatility, Forecasting, Moments, Climate risks, G7 countries |
| JEL: | C22 C32 C53 G10 G17 Q54 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:pre:wpaper:202424&r= |
| By: | Anabela Marques Santos; Francesco Molica; Carlos Torrecilla Salinas (European Commission, Joint Research Centre, Sevilla, Spain; European Commission, Joint Research Centre, Brussels, Belgium; European Commission, Joint Research Centre, Sevilla, Spain) |
| Abstract: | Artificial Intelligence (AI) is seen as a disruptive and transformative technology with the potential to impact on all societal aspects, but particularly on competitiveness and growth. While its development and use has grown exponentially over the last decade, its uptake between and within countries is very heterogeneous. The paper assesses the geographical distribution at NUTS2-level of EU-funded investments related to AI during the programming period 2014-2020. It also examines the relationship between this specialization pattern and regional characteristics using a spatial autoregressive model. Such an analysis provides a first look at the geography of public investment in AI in Europe, which has never been done before. Results show that in the period 2014-2020, around 8 billion EUR of EU funds were targeted for AI investments in the European regions. More developed regions have a higher specialization in AI EU-funded investments. This specialization also generates spillover effects that enhance similar specialization patterns in neighboring regions. AI-related investments are more concentrated in regions with a higher concentration of ICT activities and that are more innovative, highlighting the importance of agglomeration effects. Regions that have selected AI as an innovation priority for their Smart Specialization Strategies are also more likely to have a higher funding specialization in AI. Such findings are very relevant for policymakers as they show that AI-related investments are already highly spatially concentrated. This highlights the importance for less-developed regions to keep accessing to sufficient amounts of pre-allocated cohesion funds and to devote them for AI-related opportunities in the future. |
| Keywords: | Artificial intelligence; Public subsidy; Territorial specialization; Europe |
| JEL: | O31 R58 R12 O52 |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:mde:wpaper:181&r= |
| By: | Parisa Ghasemi (University of Coimbra, Faculty of Economics); Paulino Teixeira (University of Coimbra, Centre for Business and Economics and Faculty of Economics); Carlos Carreira (University of Coimbra, Centre for Business and Economics and Faculty of Economics) |
| Abstract: | In this study, we investigate the impact of the share of the foreign labor force on the labor productivity of firms operating in Portugal between 2010 and 2019, drawing on data from two main sources: linked employer-employee data from Quadros de Pessoal and firm-level balance sheet data from SCIE-Sistema de Contas Integradas das Empresas. The empirical analysis, conducted using Fixed Effects Two-Stage Least Squares, shows that immigrants do not contribute to the productivity of firms in which they are employed. We further investigate whether the productivity response to increased immigrant labor varies across different subsamples. Notably, low-productivity firms experience adverse effects when the share of immigrants rises, whereas smaller firms benefit from their presence. Furthermore, our analysis shows a positive and statistically significant impact on labor productivity from foreign-born workers with 5 to 9 years of formal education. This finding suggests that this particular demographic brings valuable skills and contributions to the workforce, enhancing overall productivity levels. |
| Keywords: | Firms, Immigration, Low skilled Immigrants, Productivity |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:gmf:papers:2024-01&r= |
| By: | Fatica, Serena (European Commission); Grammatikopoulou, Ionna (European Commission); Hirschbuehl, Dominik (European Commission); La Notte, Alessandra (European Commission); Pisani, Domenico (European Commission) |
| Abstract: | Nature-related financial risks have emerged as critical concerns for policymakers and financial actors. Central to this issue are ecosystem services, which play an integral role in various production processes but may be interrupted due to nature degradation. This article delves into the vulnerability of European SMEs by combining firm-level exposures to ecosystem service dependencies with regional information on the relative abundance of ecosystem services provisioning and the risk of natural hazards. Focusing on long-term debt positions to gauge financial stability implications, the results reveal moderate nature risks for European SMEs at the current stance but also highlight a possible concentration of risks and a need to further refine the use of available indicators. |
| Keywords: | ecosystem services, natural capital, nature degradation, physical risks, environmental risks, ENCORE, risk management, SMEs |
| JEL: | G21 G38 Q5 |
| Date: | 2024–03 |
| URL: | https://d.repec.org/n?u=RePEc:jrs:wpaper:202403&r= |
| By: | Arndt, Sarah |
| Abstract: | In this paper, I investigate how inflation signals from different types of newspapers influence household inflation expectations in Germany. Using text data and the large language model GPT-3.5-turbo-1106, I construct newspaper-specific indicators and find significant heterogeneity in their informativeness based on the genre—tabloid versus reputable sources. The tabloid’s indicator is more effective for predicting perceived inflation among low-income and lower-education households, while reputable newspapers better predict higher-income and more educated households’ expectations. Local projections reveal that tabloid sentiment shows an immediate decrease following a monetary policy shock, whereas responses from reputable newspapers are smaller and delayed. Household expectations also vary depending on the type of newspaper affected by the sentiment shock and the socioeconomic background of the household. These findings underscore the differentiated impact of media on inflation expectations across various segments of society, providing valuable insights for policymakers to tailor communication strategies effectively. |
| Keywords: | Inflation expectations; text mining; forecasting; monetary policy; LLM; ChatGPT |
| Date: | 2024–06–25 |
| URL: | https://d.repec.org/n?u=RePEc:awi:wpaper:0748&r= |
| By: | Luca, Davide; Özgüzel, Cem; Wei, Zhiwu |
| Abstract: | The paper maps the diffusion of working from home across 30 European countries during the COVID-19 pandemic. We summarise the determinants of remote working and show that its uptake was lower than in the United States, and substantially uneven across/within countries, with most remote jobs concentrated in cities and capital regions. We then apply a variance decomposition procedure to investigate whether the uneven distribution of remote jobs can be attributed to individual or territorial factors. Results underscore the importance of composition effects as, compared with intermediate-density and rural areas, cities hosted more workers in occupations/sectors more amenable to working remotely. |
| Keywords: | COVID-19; Europe; remote work; telework; work from home |
| JEL: | R14 J01 |
| Date: | 2024–06–06 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:123880&r= |
| By: | Martin Koning (AME-SPLOTT - Systèmes Productifs, Logistique, Organisation des Transports et Travail - Université Gustave Eiffel); Laurent Carnis (TS2-LMA - Laboratoire Mécanismes d'Accidents - Université Gustave Eiffel); Marc Ivaldi (TSE-R - Toulouse School of Economics - UT Capitole - Université Toulouse Capitole - UT - Université de Toulouse - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, EHESS - École des hautes études en sciences sociales) |
| Date: | 2023 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04506174&r= |
| By: | Lipps, Jana; Jacob, Marc S |
| Abstract: | International organizations promoting political liberalization and economic integration have become increasingly contested by some of their own members that do not abide by liberal norms. Yet our knowledge about whether these illiberal actors might change the decision-making process within international organizations remains limited. We argue that as more illiberal domestic parties emerge, liberal majority positions in democratic international organizations face increased contestation. We expect this development to be driven mainly by illiberal parties from liberal democracies. To provide evidence for our claims, we study roll call votes in the Parliamentary Assembly of the Council of Europe (PACE), one of the most powerful international parliaments to date and one committed to promoting liberal values. Leveraging an original dataset recording about 400, 000 individual votes cast in PACE decisions, we find that illiberal parties are considerably more likely to cast dissenting votes than liberal parties. In contrast to our theoretical expectations, illiberal parties from illiberal (and not liberal) political systems challenge the majority most often. However, being in government mitigates illiberal parties’ challenging behavior. Our study has implications for the potential threat of emerging illiberal actors to international liberal institutions and organizations. |
| Keywords: | Social and Behavioral Sciences, Liberal International Order, Illiberalism, International Parliamentary Institutions, Voting, Democracy, Parliamentary Assembly of the Council of Europe |
| Date: | 2022–08–17 |
| URL: | https://d.repec.org/n?u=RePEc:cdl:globco:qt6fg0093j&r= |
| By: | Francesca Guadagno (The Vienna Institute for International Economic Studies, wiiw); Oliver Reiter (The Vienna Institute for International Economic Studies, wiiw); Robert Stehrer (The Vienna Institute for International Economic Studies, wiiw) |
| Abstract: | Increasing production of green technologies in the EU holds great potential for the European economy. This study uses trade data and input-output tables to estimate the impacts on GDP and employment of reshoring to the EU the production of five major green technologies photovoltaics, wind turbines, batteries, electric motors and electric vehicles. Our findings show that reshoring these five technologies would increase EU GDP by EUR 18.4 billion, or 0.13% of EU GDP, and create 242, 728 new jobs. The same shift of imports to EU production would have had roughly half of the impact in 2010. We also find significant spillover effects on other sectors of the economy, particularly for metal products, wholesale and retail, professional, scientific and technical activities, and administrative and support services. To make the most from the transition, we argue that EU green industrial policy should put more emphasis on manufacturing capacities and innovation to meet the targets of the Net Zero Industry Act, remain internationally competitive, and reduce strategic dependencies. |
| Keywords: | green transition; photovoltaics; batteries; electric vehicles; GDP; employment |
| JEL: | Q55 Q56 F14 O25 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:wii:pnotes:pn:80&r= |
| By: | Akoh Fabien Yao (i3-CRG - Centre de recherche en gestion i3 - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique); Maxime Sèbe (i3-CRG - Centre de recherche en gestion i3 - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique); Laura Recuero Virto (PULV - Pôle Universitaire Léonard de Vinci); Abdelhak Nassiri (AMURE - Aménagement des Usages des Ressources et des Espaces marins et littoraux - Centre de droit et d'économie de la mer - IFREMER - Institut Français de Recherche pour l'Exploitation de la Mer - UBO - Université de Brest - IUEM - Institut Universitaire Européen de la Mer - IRD - Institut de Recherche pour le Développement - INSU - CNRS - Institut national des sciences de l'Univers - UBO - Université de Brest - CNRS - Centre National de la Recherche Scientifique - CNRS - Centre National de la Recherche Scientifique); Hervé Dumez (i3-CRG - Centre de recherche en gestion i3 - X - École polytechnique - IP Paris - Institut Polytechnique de Paris - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | Environmental practices can enable most businesses, including ports, to gain a competitive advantage. Given the chicken-and-egg dilemma for the adoption of alternative fuels in the shipping industry, this article assesses whether and to what extent ports have incentives to provide liquefied natural gas (LNG) bunkering infrastructure. More specifically, we test whether such facilities positively affect the competitiveness of the ports, which would be an additional incentive to drive the transition to alternative fuels. Using multilevel regressions and propensity score matching on LNG-fueled vessel movements in the Baltic Sea Region in 2019, we found no significant effect of LNG bunkering infrastructure on port competitiveness, measured by port choice probabilities expressed by vessels. Although our findings indicate that ports do not gain a competitive advantage in the short-term, we do not rule out potential gains in the long-term. Policy intervention is desirable in the short-term to maintain incentives for port investments |
| Abstract: | Les pratiques environnementales peuvent permettre à la plupart des entreprises, y compris les ports, d'obtenir un avantage concurrentiel. Compte tenu du dilemme de la poule et de l'œuf pour l'adoption de carburants de substitution dans l'industrie du transport maritime, cet article évalue si et dans quelle mesure les ports ont des incitations à fournir des infrastructures de soute au gaz naturel liquéfié (GNL). Plus précisément, nous testons si ces installations ont une incidence positive sur la compétitivité des ports, ce qui serait une incitation supplémentaire à conduire la transition vers des carburants alternatifs. En utilisant les régressions à plusieurs niveaux et l'adéquation des scores de propension sur les mouvements des navires alimentés par le GNL dans la région de la mer Baltique en 2019, nous n'avons constaté aucun effet significatif de l'infrastructure de soute de GNL sur la compétitivité des ports, mesurée par les probabilités de choix portuaire exprimées par les navires. Bien que nos conclusions indiquent que les ports n'obtiennent pas d'avantage concurrentiel à court terme, nous n'excluons pas les gains potentiels à long terme. L'intervention politique est souhaitable à court terme pour maintenir des incitations aux investissements portuaires. |
| Keywords: | LNG, Port choice, Baltic Sea, Multilevel regression, Propensity score matching, GNL, Choix du port, Mer Baltique, Régression à plusieurs niveaux, Correspondance de scores de propension |
| Date: | 2024–07 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04611804&r= |
| By: | Kim, Yoonjung (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Lee, Cheolwon (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Oh, Taehyun (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kim, Chorong (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); Kang, Yooduk (Hankuk University of Foreign Studies) |
| Abstract: | 본 연구에서는 러시아의 우크라이나 침공 이후 EU의 추가 확대 가능성에 대한 고찰을 통해 향후 한-EU 경제협력 관련 정책 시사점을 제시한다. 기존의 EU 확대 관련 연구가 글로벌 금융위기 이전에 주로 수행된 반면, 본 연구는 금융위기 및 유로존 위기와 팬데믹 등을 거치며 나타난 변화를 반영한다는 점에서 차별성을 갖는다. 특히 중동부유럽 국가들의 EU 가입 이후 성과에 대한 평가와 함께 다양한 경제지표 및 거버넌스 지수 분석을 통해 신규 가입 후보국들의 현 상황을 세부적으로 진단하고, 기업 및 산업 구조에 대한 조망을 통해 우리나라의 대EU 진출 전략을 도출하였다. This study assesses the previous enlargement of the EU and investigates the potential enlargement EU in the future. The European Union has established itself as a politically and economically integrated community in the European region, and it continues to evolve. The biggest change in the EU in the last two decades was the massive enlargement of the EU to the countries of Central and Eastern Europe in 2004, when eight Central and Eastern European countries joined the EU together at the same time. The discussion of EU enlargement, which has been stagnant since the last enlargement when Croatia joined the EU, seems to have been revitalized by the recent Russian invasion of Ukraine. As further changes in the EU are becoming increasingly visible, the purpose of this study is to draw implications for Korea’s future strategy to cooperate with the EU candidate countries. To this end, Chapter 2 provides an understanding of the EU’s enlargement process, and Chapter 3 lays the groundwork for future conjectures through an economic and political assessment of existing Central and Eastern European countries since their accession to the EU. In addition, Chapter 4 examines the prospects for the accession of the candidate countries through a diagnosis of their current economies and governance, and Chapter 5 examines Korea’s cooperation with the existing Central and Eastern European countries and the current status of cooperation with the candidate countries. We conclude with the prospects for further enlargement of the EU and policy implications for Korea’s future cooperation in Chapter 6. (the rest omitted) |
| Keywords: | enlargement; EU; Central and Eastern Europe; GDP; trade share; foreign direct investment |
| Date: | 2023–12–29 |
| URL: | https://d.repec.org/n?u=RePEc:ris:kieppa:2023_035&r= |
| By: | Rangan Gupta (Department of Economics, University of Pretoria, Private Bag X20, Hatfield 0028, South Africa); Qiang Ji (Institutes of Science and Development, Chinese Academy of Sciences, Beijing, China; School of Public Policy and Management, University of Chinese Academy of Sciences, Beijing, China); Christian Pierdzioch (Department of Economics, Helmut Schmidt University, Holstenhofweg 85, P.O.B. 700822, 22008 Hamburg, Germany) |
| Abstract: | Focusing on China, we study the predictive value of Chinese climate policy uncertainty (CCPU) for subsequent stress in China’s financial markets in a sample of daily data running from October 2006 to December 2022. We control for the impact of international spillover effects of financial stress originating in the European Union (EU), the United Kingdom (UK), and the United States (US), and also for a large number of other important macroeconomic, financial, behavioral variables. Given the large number of predictors, we use random forests, an ensemble machine-learning technique, to trace out the impact of CCPU on financial stress by means of an out-of-sample forecasting experiment. We find that CCPU has predictive value for subsequent financial stress, and that its predictive power is stronger than that of measures of global climate risk. Its predictive value is strongest at a short (daily) forecast horizon and tends to decrease when the length of the forecast horizon increases. Moreover, we document the predictive value of CCPU across a spectrum of conditional quantiles of financial stress. |
| Keywords: | Financial stress, Climate risks, China, Random forests, Forecasting |
| JEL: | C22 C32 C53 G15 Q54 |
| Date: | 2024–06 |
| URL: | https://d.repec.org/n?u=RePEc:pre:wpaper:202428&r= |
| By: | Brüggemann, Anke; Rode, Johannes |
| Abstract: | A recent analysis of the KfW Climate Barometer revealed that in the year 2022, 4.3% or approx. 160, 000 private-sector firms in Germany invested in the generation and storage of electricity or heat from renewable energy sources. That was significantly more than in the previous year. The increase in fossil fuel prices caused by Russia's war of aggression against Ukraine has made investment in renewables more attractive. More than half of firms (54%) in Germany were already using electricity from renewables. But only one in ten businesses was using heat from renewable energy. Both electricity and heat from renewables are more common in larger enterprises than in smaller firms. The provision of heat in industry and commerce is still largely based on burning fossil fuels. That is why it is now necessary to place a stronger focus on the decarbonisation of industrial process heat supply. |
| Date: | 2024–04–26 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:145732&r= |
| By: | A K M Zakaria (Department of Business Economics and Management, School of Business Administration, Silesian University) |
| Abstract: | Marketing and Customer Relationship Management (CRM) are leading departments within an organization, contributing significantly to achieving industrial success. In the microfinance industry, CRM plays a crucial role in building customer trust and understanding their needs better. When serving refugee entrepreneurs, microfinance organizations face additional challenges due to diverse languages and cultures. However, they also have substantial opportunities to expand their business among refugee entrepreneurs. The aim of this working paper is to highlight the importance of CRM in the microfinance industry when serving refugee entrepreneurs in Europe. The study will analyse the challenges and opportunities of microfinance institutions (MFIs) in caring to this specific customer segment. The findings will assist microfinance institutes' marketing and CRM departments in satisfying refugee customers and achieving organizational objectives. |
| Keywords: | CRM, refugee entrepreneurs, CRM on microfinance, MFIs, marketing |
| JEL: | L26 L31 M31 |
| Date: | 2023–07–06 |
| URL: | https://d.repec.org/n?u=RePEc:opa:wpaper:0075&r= |
| By: | International Monetary Fund |
| Abstract: | The assessment of Luxembourg’s large, interconnected, and complex financial system took place against heightened economic, financial, and geopolitical uncertainty. Investment funds have grown since the 2017 FSAP, while their connections to other funds, banks, nonbank financial intermediaries, and foreign entities have also increased. Domestic banks face risks from the ongoing downturn in credit and house price cycles, especially in the high-risk mortgage segment. Securities portfolios in large banks are mostly held-to-maturity and spread across euro area issuers. The banking sector maintains higher capital ratios than euro area peers, has low but rising nonperforming loans, and benefits from support to the economy from a AAA-rated sovereign. |
| Date: | 2024–06–07 |
| URL: | https://d.repec.org/n?u=RePEc:imf:imfscr:2024/157&r= |
| By: | Goldbach, Stefan; Harms, Philipp; Jochem, Axel; Nitsch, Volker; Weichenrieder, Alfons J. |
| Abstract: | In some countries, a sizable fraction of savings is derived from corporate savings. Although larger, traded corporations are often co-owned by foreign portfolio investors, current international accounting standards allocate all corporate savings to the host country. This paper suggests a framework to correct for this misleading attribution and applies this concept to Germany. For the years 2012 to 2020, our corrections retrospectively reduce German savings and consequently the German current account surplus by, on average, €11.5bn annually. This amounts to lowering Germany’s average official current account surplus (€226.6bn) across these years by approximately five percent. |
| Date: | 2024–06–10 |
| URL: | https://d.repec.org/n?u=RePEc:dar:wpaper:145780&r= |
| By: | Lundberg, Jacob (Research Institute of Industrial Economics (IFN)) |
| Abstract: | This paper develops a comprehensive framework for analyzing the revenue, efficiency and social welfare implications of top income taxation. It generalizes the Saez (2001) formula for the optimal top tax rate by deriving analytical expressions for the Laffer curve and excess burden. Applied to the 2021 U.S. top federal tax bracket, assuming a taxable income elasticity of 0.25, the study finds an excess burden of $101 billion and a maximum potential revenue increase of $111 billion. In contrast, other English-speaking countries and Germany are positioned closer to their Laffer curve peaks, incurring greater efficiency losses, whereas the Nordic countries studied are on the downward-sloping part of the Laffer curve. Additionally, the paper endogenizes the marginal social welfare weight on high-income earners and, following an inverse optimal taxation approach, concludes that in none of the studied countries does the observed top marginal tax rate appear consistent with a conventional welfarist social welfare function. |
| Keywords: | Income taxation; Optimal taxation; Laffer curve; Excess burden |
| JEL: | H21 H24 |
| Date: | 2024–06–18 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:iuiwop:1492&r= |
| By: | Arnone, Massimo; Leogrande, Angelo |
| Abstract: | The competitiveness of financed intermediaries cannot be based exclusively on financial sustainability, i.e. the ability to create profit, but it is also necessary to acquire a transversal vision of sustainability focused on the three ESG dimensions. The paper intends to propose a reflection on the main impacts of the integration of ESG factors on business decisionmaking and operational processes in the financial sector. In this context, we try to understand what role FinTech can play in favor of greater sustainability. Furthermore, through an empirical analysis, some determinants relating to social, environmental, and governance issues are identified which influence the volume of financial resources moved in the factoring market at a European level. Machine learning models are also proposed to estimate the volume. |
| Date: | 2024–06–27 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:753gf&r= |
| By: | Federico S. Mandelman; Yang Yu; Francesco Zanetti; Andrei Zlate |
| Abstract: | We document a steady decline in low-skilled immigration that began with the onset of the Great Recession in 2007, which was associated with labor shortages in low-skilled service occupations and a decline in the skill premium. Falling returns to high-skilled jobs coincided with a decline in the educational attainment of native-born workers. We develop and estimate a stochastic growth model with endogenous immigration and training to account for these facts and study macroeconomic performance and welfare. Lower immigration leads to higher wages for low-skilled workers and higher consumer prices. Importantly, the decline in the skill premium discourages the training of native workers, persistently reducing aggregate productivity and welfare. Stimulus policies during the COVID-19 pandemic, amid a widespread shortage of low-skilled immigrant labor, exacerbated the rise in consumer prices and reduced welfare. We show that the 2021-2023 immigration surge helped to partially alleviate existing labor shortages and restore welfare. |
| Date: | 2024–06–30 |
| URL: | https://d.repec.org/n?u=RePEc:oxf:wpaper:1047&r= |
| By: | Thierry Blayac (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Pierre Courtois (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Lucille Sevaux (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Hélène Rey-Valette (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Anais Page (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Nicole Lautrédou-Audouy (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Jean-Michel Salles (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Frédérique Viard (UMR ISEM - Institut des Sciences de l'Evolution de Montpellier - Cirad - Centre de Coopération Internationale en Recherche Agronomique pour le Développement - EPHE - École Pratique des Hautes Études - PSL - Université Paris Sciences et Lettres - Institut de recherche pour le développement [IRD] : UR226 - CNRS - Centre National de la Recherche Scientifique - UM - Université de Montpellier) |
| Abstract: | Marinas have a major ecological footprint, not only because of the pollution they generate but also because of the introduction and spread of non-indigenous species (NIS). This invites us to reconsider both the practices and infrastructures of marinas but also their uses and users, as marinas are increasingly recognized as places of well-being. The twofold objective of this article is to analyze the public's perception of environmental and ecological degradation in marinas and to assess the willingness to pay to improve their environmental quality. We conducted a field survey among residents and boaters of four marinas in France and showed that both have a relatively low knowledge of NIS, as well as of the responsibility of the boating activity for their spread. Other environmental degradations, such as the pollution generated by boats, are better identified and many agree on the positive economic impact of marinas. We showed a high willingness to pay to improve the environmental quality of marinas and on this basis make recommendations on how to encourage support for reducing environmental degradation. In particular, we discuss the appropriation of marinas by a wider population, including residents, young people and women. The challenge is for marinas to become multifunctional spaces, with the extension of their uses to a wider range of users going hand in hand with an improvement in their environmental quality. |
| Keywords: | Contingent valuation, Public and user survey, Ecological impacts, Marine invasive species, Boaters Coastal environments, Ports |
| Date: | 2024–08 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04596361&r= |
| By: | Maria José Sousa (ISCTE Instituto Universitário de Lisboa) |
| Abstract: | Artificial Intelligence (AI) has emerged as a focal point for researchers and industry experts, continuously redefined by technological advancements. AI encompasses the development of machines impersonating human cognitive processes, such as learning, reasoning, and self-correction. Its wide-ranging applications across industries have showcased its increasing precision and efficiency, and Agriculture has also embraced AI to increase income and efficiency. In this regard a literature review to comprehensively understand the concept, existing research, and projects related to AI in agriculture was performed. Moreover, this paper approaches the potential of AI in agriculture practically, addressing the emergence of new methods and practices, using a case study approach, and analyzing the perceptions of impacts of AI in agriculture, from experts, academics, and agriculture professionals regarding the application of AI. It contributes to real application development, offering insights that resonate within academic and practical dimensions. |
| Keywords: | Artificial Intelligence, Agriculture, Efficiency, Quantitative analysis |
| JEL: | D20 Q16 |
| URL: | https://d.repec.org/n?u=RePEc:mde:wpaper:180&r= |